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Search Results 0 to 5 of about 6 (some duplicates have been removed)
Mar 16, 2013 10:00am PDT
have a shutdown. come may 18th, we could breach the debt ceiling again. give me your sense of how series these matters are and what's likely to happen. >> sure. i think congress will come to some sort of agreement next week before taking a two-week recess to keep funding the government. they will pass a continuing resolution this week. i don't think that will be a big issue. the question sort of moving forward is what's going to be the fight surrounding the debt ceiling. the republicans want to use that as an opportunity to make deeper cuts to entitlement programs. part of the president's outreach this week to republicans has been to remind them he's put on the table as part of a bigger deal about $400 billion to cuts in medicare and medicaid as well as about $130 billion in chain cpi, which would be, you know, a shift in the way we calculate some federal benefits. soy think that the contours of a deal will come if it does come at all around the debt ceiling fight and the months leading up to that. >> nancy, good to see you. thanks very much. nancy cook, economic fiscal policy cor
Mar 16, 2013 12:00pm PDT
to make thing more interesting we run back into the ceiling debt much later and that rolls up into the fiscal cliff 2.0 in how the government tempts to deal with it. so you may ask yourself we have a portion of the tax increases went through and who knows exactly what congress is going to but it's probably a pretty good guess that we get to the very last minute right before the march 1st effective gate date for the spending cuts and then we get some other short-term extension to add to this made for tv drama that they seem so fond of lately and you wonder where does it get us long term and how are we able to close the gap here the congressional budget office has looked at what they consider to be the most likely outcome of the ongoing negotiations which, is a marshal implementation of these spending cuts and what you see here are two lines. the top line is out lace as a percentage of gdp or government spending as a percentage of gdp and starting today and going out through the end of 2022 and this is a forecast for the next nine years and going below that is rather a new as a% of gdp and what you take way here is what are we dealing with this budget deficit problem for some time i
Mar 15, 2013 11:00pm EDT
leverage could see was against the debt ceiling. she pointed out also the balanced budget during the clinton administration. one thing he benefited from is a soaring economy. you can't overstate how much that brings in all the tax revenue without having to make major changes to the tax code to do something the president hasn't benefited from. a soaring economy can reduce the deficit. >> host: the distance between the parties on the budget. we are detected a sequestration, but they point out for additional spending cut under the democratic plan there are none. a series of spending cuts on interest rates at $1.8 trillion in savings from repealing the health care law. democrats proposing $100 billion in new stimulus spending. republicans propose no new spending. democrats raising $975 billion annual revenue. no tax increase among republicans and then social security. no changes on social security. require the president and congress to submit plans to increase the trust fund. >> guest: social security is one of those things it has enough money in its reserves to continue paying full benefits through 2036. 10,000 people turning 65 every day in the number of people entering the program and continuing to accept more benefits than they paid out
Mar 16, 2013 12:00am PDT
debt ceiling. we saw a solution which we hope would not be put in place. no one expected it to be put in place. the idea was to have a commitment mechanism we wouldn't need to force us to make better policy decisions on the sequester. and in the negotiations, what i was referring to was the fiscal cliff negotiations at the end of last year, where the matters were very close. the president did not ask for more revenue in those negotiations. he actually asked for less. he had 1.6 trillion in his budget, came down to 1.2 trillion. i will point out charlie the president has done unusual he's kept his last offer on the table. he didn't retreat and say no i want to go back to that original figure. he kept some very difficult offers on the table to reach a bargain, including entitlement reforms. and so the president has been looking for a balanced way to do this. and in some sense it's the other side that moved. the speaker was offering $800 billion for the loopholes to close which would get us a long way towards balance now. >> rose: let me come to what's happening now. because the president having had the dinner with the
Mar 15, 2013 10:30pm EDT
debates that have dominated washington the last few weeks. we have the fiscal cliff, the debt ceiling, we had gun control task force and the sequester. these are government sideshows and washington that we have allowed to take some just -- center stage. we are falling in the track. all these debates are about government. wrappedconservatism is up in solving the federal budget. , even as our president creates new programs, today's conservatism is in love with zeros. sessionto have an up with government bookkeeping. it is the wrong game for us to be playing. yesterday was the fiscal cliff. andy, the sequester tomorrow the fiscal apocalypse and then it will be the fiscal armageddon. i have news for you, our government already went off the fiscal cliff. .t happened years ago it happens every year for the last several years. yet, we think if we could just unite behind a proposal to cut the deficit and debt, if we could put together a spreadsheet, that all will be well. i am here to say this obsession with zeros as everyone in our party focus on the government. we send a not-so-subtle signal that the focus of our country is on the phony economy of washington, d.c. the real economy is in billings or baton
Search Results 0 to 5 of about 6 (some duplicates have been removed)